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Added on the 11/10/2023 17:43:00 - Copyright : Euronews EN
Britain's economy will rebound this year and not shrink as initially thought, but will grow far less than expected next year, finance minister Jeremy Hunt says as he presents his Autumn Statement to parliament. Gross domestic product will expand 0.6 percent in 2023, Hunt said citing the Office for Budget Responsibility fiscal watchdog, upgrading its prior forecast of minus 0.2 percent. GDP is then set to grow by 0.7 percent in 2024, which was sharply down from previous guidance for a 1.8-percent expansion. SOUNDBITE
The European Commission sharply cuts its 2023 growth forecast for Germany, predicting the EU's biggest economy will be in recession this year. SOUNDBITE
The chair of the US Federal Reserve, Jerome Powell, predicts an annual inflation rate of 4.2 percent in 2021, up from the 3.4 percent forecast in June, dropping to 2.2 percent in 2022. SOUNDBITE
The US Federal Reserve left its key lending rate unchanged on and penciled in just one rate cut this year, down from the three expected in March. SOUNDBITE
Energy Minister Saad al-Kaabi, who is also the chief executive of QatarEnergy signs a deal with Shun-Chin Lee, Chairman of the CPC Corporation Taiwan for Qatar to supply the Taiwan-headquartered CPC with natural gas for 27 years. Qatar will supply four million tonnes of gas a year under the deal, QatarEnergy said in a statement, without disclosing the cost of the agreement. IMAGES
French President Emmanuel Macron is welcomed with military honours by President Frank-Walter Steinmeier at Bellevue Castle. Macron is in Berlin on the first state visit to Germany by a French president in a quarter century, bringing a plea to defend democracy against nationalism at upcoming European elections. IMAGES
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